ASSESSMENTS
Russia: Taking Control With a Bailout
Oct 30, 2008 | 20:22 GMT
MAXIM MARMUR/AFP/Getty Images
Summary
Russian foreign exchange reserves fell $31 billion in the week ending Oct. 24 as a result of the Russian government's move to prop up its banks and corporations. To prevent a massive bloodletting in these sectors, Moscow has initiated a plan to use its vast foreign reserves to rescue its banks and corporations. The end result of this strategy will be increased government control of the economy and reduced overall cash reserves.
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